Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : Hewlett-Packard (HPQ) -- Ignore unavailable to you. Want to Upgrade?

To: Night Writer who wrote (380)	5/14/2002 11:49:01 AM
From: Night Writer	Read Replies (1) \| Respond to of 4345

HP<HPQ.N> Israel subsidiary sees $800 mln in sales TEL AVIV, May 14 (Reuters) - The Israeli subsidiary of the newly merged Hewlett-Packard Co and Compaq Computer Corp estimates it will have $800 million in sales in its first year, the head of the unit said on Tuesday. "The latest mergers and acquisitions position HP Israel as the leading local computer company," said Udi Graff, head of HP Israel, which combines HP's and Compaq's Israeli subsidiaries. HP Israel also includes Indigo NV, the Israeli maker of digital printing systems recently acquired by Hewlett-Packard. Graff said the $800 million in sales includes $450 million in domestic sales and $350 million in exports of digital printing systems. HP Israel has 1,200 workers and has been divided into four business units -- HP Services, Personal Systems Group, Imaging and Printing Group and Enterprise Systems Group. Graff said the integration process should be completed by the end of the summer and that he expected only a very small number of layoffs as a result of the merger. HP earlier this month completed its $18.7 billion acquisition of Houston-based Compaq, the largest acquisition in technology industry history. ((Tova Cohen, Tel Aviv newsroom, +972-3-537-2211, ext 238, telaviv.newsroom@reuters.com)) REUTERS * end of story *